8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

Tata Steel closes blast furnaces in the UK!

Tata Steel has reported that blast furnaces at its Port Talbot steel facility will be closed.

Tata Steel closes blast furnaces in the UK!

Tata Steel informed that the Port Talbot blast furnaces in the UK will be closed and 2,800 employees will be dismissed. The hot strip mill will continue to operate during the mentioned transition period, but steel raw materials will be imported from Tata Steel facilities in the Netherlands and India, according to the company.

First blast furnace will be shut down in mid-2024 and the second facility as well as the coke ovens will be shut down by the end of the year. Additionally, a new electric arc furnace is scheduled to be commissioned in 2027.

Around 2,500 jobs will be cut over the next 18 months and the remaining 300 over the next three years.

The company's proposal to invest in a new electric arc furnace, which is predominantly used to process scrap produced in the UK, indicates that it can compete by successfully building low-carbon production facilities. Tata Steel emphasizes that these facilities reduce emissions while producing high quality steel.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Saudi Arabia expands mining sector with 28 new licenses

Tuesday, November 5, 2024

India’s steel production increases, exports and imports remain imbalanced

Tuesday, November 5, 2024

Appointment from Dealer Holding! Mehmet Fatih Gökçe became CSO

Tuesday, November 5, 2024

China's steel demand expected to increase: PMI data support production

Tuesday, November 5, 2024

Saarstahl Rail awarded as “2024 sustainability champion”

Tuesday, November 5, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now